Wisconsin Entrepreneur Secures Financing to Buy Garage Tek Franchise

Borrowing money to invest in a Garage Tek franchise? Park Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Garage Tek franchise shouldn't be overly burdensome. In 2006, Park Bank issued an SBA franchise loan to an entrepreneur in Waukesha, Wisconsin. Because Garage Tek was registered with the SBA's registry of franchises, this Wisconsin small business loan was issued on an expedited basis.

SBA Loan Borrower

MIDWEST GARAGE INTERIORS, LLC
WAUKESHA, WI 53186

SBA Loan Lender

PARK BANK
15850 W BLUEMOUND RD
BROOKFIELD, WI 53005

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

236118 - Residential Remodelers

Loan Approval Date

9/20/2006

Loan Approval Gross Amount

$208,000

Loan Approval from the SBA

Of the total $208,000 loan amount, the SBA guaranteed $104,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Garage Tek franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Park Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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